City Markets targeting Christmas profitability

Wed, Sep 8th 2010, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

City Markets chief executive yesterday said he hoped to return the supermarket chain to profitability over the Christmas shopping period, aided by a marketing "arsenal" it aimed to launch within the next two weeks, amid signs that the company is stemming the bleeding - the 2010 fourth quarter loss totalling $873,000.

Talking to Tribune Business after the company posted, according to management accounts, a $7.431 million net loss for the year to June 30, 2010, a 22.4 per cent increase over the previous year's $6.069 million, Derek Winford described increasing market share and winning back customers as "the biggest challenge right now...

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